Zerodha Co-Founder Nikhil Kamath Invests in The 1% Club
- ByStartupStory | October 31, 2023
Nikhil Kamath, a prominent figure in the world of finance and co-founder of Zerodha, has invested in The 1% Club, an initiative led by influencer-turned-entrepreneur Sharan Hegde and Raghav Gupta. The startup recently secured Rs10 crore in pre-series A funding from Gruhas, a venture capital firm co-founded by Nikhil Kamath and Abhijeet Pai from the Puzzolana Group.
The 1% Club is a distinctive members-only platform that aims to empower individuals with educational resources, mentorship, and entrepreneurial opportunities to better plan their financial future. This significant investment from Gruhas will be instrumental in expanding the platform’s operations and attracting top talent.
Nikhil Kamath, expressing his confidence in The 1% Club, said, “The 1% Club represents a unique fusion of finance and community, a combination that can transform how individuals approach wealth creation and financial management. I believe in the potential of this platform to redefine the future of fintech and edtech.”
This investment comes at a pivotal juncture for The 1% Club, underscoring the growing influence of credible financial influencers within India’s startup ecosystem, even as regulatory bodies like the Securities and Exchange Board of India (SEBI) intensify their scrutiny of influencers.
The partnership with Gruhas not only injects financial support but also offers strategic guidance, positioning The 1% Club at the forefront of evolving fintech innovation and influencer-driven businesses and marketing.
Sharan Hegde, one of the minds behind The 1% Club, emphasized the importance of financial education, saying, “People can only invest wisely and make informed financial decisions when they are well-educated about the subject. The 1% Club combines the power of education with the convenience of fintech, enabling our users to embark on a journey of financial empowerment.”
Raghav Gupta, another key player in the initiative, highlighted the goal of the platform: “At The 1% Club, the goal is to cater to the aspiration of improving the financial well-being of the new India.”
Abhijeet Pai, co-founder of Gruhas, expressed his delight in supporting The 1% Club’s vision, recognizing the startup’s significant role in addressing the issue of financial literacy and community building. The platform’s unique approach blends essential data statistics with a distinct communication style to enhance reach and interaction, especially among the younger generation.
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